More and more these days, customers are turning to their banks for financial advice â€“ not just how much they can borrow or what lending packages are available, but how they can grow their business and increase their profits.
If youâ€™ve got small business customers whose growth is being hampered because they donâ€™t have the capacity to meet demand, one of the best ways you can help them is by giving them tips on how to boost that capacity. From speeding up production or improving systems and processes, a boost in capacity is almost always going to see them increase their profit margins.
So what youâ€™re looking to do is show your small business customers how they can improve their ability to do more internally. These options donâ€™t necessarily include borrowing more money â€“ there are ways they can work â€˜smarterâ€™ to boost their capacity:
Itâ€™s also a good idea to review what capital they have available. Thereâ€™s not much point in having it sitting there doing nothing â€“ itâ€™s much better if they invest it back into the business so that itâ€™s working for them. Or you can walk them through your business lending packages â€“ it could be that a new loan to boost their capacity will pay off in terms of growth and profits.
Weâ€™ve got some great content around boosting the capacity of small businesses, so get in touch with usÂ to see what content weâ€™ve got that would help your customers.
Glen is the founder and CEO of The Small Business Company, a New Zealand based agency that specialises in helping banks communicate with small businesses through content marketing. He has written a number of books on small business principles and is a sought after consultant and conference presenter.